It is now available on all individual and limited company refinance applications up to £1m.
Karen Bennett, sales and marketing director, commercial mortgages, Shawbrook Bank, said: “This new development will mean a smoother experience for both brokers and clients. We have already seen the benefits of non-rep refinance compared to represented refinances for individual borrowers and these are clear in our monthly SLA performance bulletins. We’re confident it will be the same for limited companies.”
The limited company client may now waive the right to solicitor representation, making the process quicker and more streamlined. The Bank has already begun to see the benefits where Pure Law and Wilson McKendrick continue to conduct the conveyancing on behalf of Shawbrook. The enhanced ‘non-rep’ facility saves money for the client by eliminating one set of solicitor fees and is designed to improve the customer journey through to completion.